Biggest stock movers today: Arm Holdings and Iovance Biotherapeutics
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Stock futures rose in the early hours of Friday, building off a 400-point leap in the Dow Jones Industrial Average in the prior session as Arm’s successful IPO helped energize market sentiment.
Here are some of Friday’s biggest movers in premarket trading:
Biggest stock gainers
Shares of Arm Holdings (NASDAQ:ARM) surged 9% in premarket trading on Friday after the Softbank-backed chip design firm made an impressive debut. The IPO, which was priced at $51, kicked off at $56.10 and closed at $63.59, almost 25% higher.
Iovance Biotherapeutics (NASDAQ:IOVA) rose 14% after the company announced that the U.S. FDA requires additional time to complete the Priority Review of its Biologics License Application (BLA) for lifileucel, a drug aimed at accelerated approval for advanced melanoma patients. The FDA has extended the target action date to February 24, 2024, but has agreed to work with Iovance to expedite the remaining review for a potentially earlier approval date.
